The buyer is Brynwood Partners VII LP which said Wednesday that it plans to leverage the 37-year-old brand's nutritional attributes and make changes to its packaging. Juicy Juice is in the 100 per cent juice category.

Brynwood Partners said that Juicy Juice was acquired by its newly created portfolio company, Harvest Hill Beverage Co., which will be based in Stamford, Connecticut.

This is Brynwood Partners' third acquisition from Nestle USA in the past 14 months, with others including Joseph's Gourmet Pasta Co. Pearson Candy Co., a portfolio company of Brynwood Partners VI, bought the Bit-O-Honey brand from Nestle USA last year.